Page 61 - Bank Muamalat_AR24

ANNUAL REPORT 2024 1 2 3 4 Our Business Performance 5 6 7 8 59

ASB Financing

Financing Income: Net Impairment:
RM8.34 million 0%

(FY2023: RM16.15 million) (FY2023: 0.08%)

ASB 10-year Dividend History

8.50 7.75 7.25 8.25 7.00 5.50 4.25 5.00 4.60 5.25 5.75
Sen 10
8 1.00 0.50 0.50 1.25 0.50
6 0.50 0.75 1.00 0.25
4 0.75 1.25
2 7.50 7.25 6.75 7.00 6.50 5.00 3.50 4.25 3.35 4.25 5.50
-
FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024
g Dividend g Bonus g Total
In FY2024, Amanah Saham Nasional Bhd (ASNB) declared a total income distribution of 5.75 sen per unit for ASB, comprising an income
distribution of 5.5 sen and a bonus of 0.25 sen per unit. This payout, amounting to RM10.1 billion, benefited 11.1 million unit holders and
represents ASNB’s highest distribution since FY2018.

At Bank Muamalat, a core objective is to enhance financial The Bank’s ASB financing product specifically targets the
inclusion by providing underserved communities with access needs of the underserved B40 community, representing the
to wealth-building opportunities. The Bank’s ASB financing bottom 40% of income earners in Malaysia, whose median
product in Malaysia serves as a tangible demonstration of mandated retirement savings of RM1,063 are severely
this commitment. ASB, a unit-trust fund managed by inadequate given an estimated requirement of RM240,000
Permodalan Nasional Berhad, aims to generate long- for an adequate retirement. The ASB financing initiative
term, consistent, and competitive returns while preserving provides funding designed to help these underserved groups
capital at minimal risk. The fund offers several advantages, invest in ASB trust funds without collateral, offering a low
including no upfront fees, low annual management fees profit rate with a maximum cap. This mechanism actively
(0.35% compared to around 1.5% for other equity unit trusts), helps the community generate more investment savings
consistently strong historical returns (5% to 14% annually since through the power of compounding and disciplined savings,
1990), and quick, easily accessible withdrawals both online thereby fostering wealth building and promoting crucial
and at ASNB counters. This consistent performance and financial inclusion within a vital demographic.
accessibility make ASB a highly attractive investment vehicle
for Malaysians.